Singapore issues a major crackdown on stablecoin regulation: it proposes to require issuers to maintain 100% reserves and prohibits paying interest to users.
The regulator has stated clearly that the new rules align with the frameworks of the United States and the European Union, while also paving the way for the recognition of foreign stablecoins. This means that for stablecoins issued in compliance with Singapore’s regulations, every single token must be backed by real, tangible assets—no more “fractional-reserve” games.
For the industry, this is another heavyweight signal after the EU’s MiCA—stablecoins are shifting from wild growth to “licensed operation.” In the short term, compliance costs will likely rise; in the long term, stablecoins with reserve audits and transparency guarantees will be the ones that win the trust of regulators and ordinary users. #稳定币 #监管 #Singapore
The regulator has stated clearly that the new rules align with the frameworks of the United States and the European Union, while also paving the way for the recognition of foreign stablecoins. This means that for stablecoins issued in compliance with Singapore’s regulations, every single token must be backed by real, tangible assets—no more “fractional-reserve” games.
For the industry, this is another heavyweight signal after the EU’s MiCA—stablecoins are shifting from wild growth to “licensed operation.” In the short term, compliance costs will likely rise; in the long term, stablecoins with reserve audits and transparency guarantees will be the ones that win the trust of regulators and ordinary users. #稳定币 #监管 #Singapore